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Retirement plan

CLEVELAND CLINIC INVESTMENT PENSION PLAN

THE CLEVELAND CLINIC FOUNDATIONEIN 34-0714585Plan #011PY 2017
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9500 EUCLID AVENUE AC-341 - CLEVELAND, OH 441950001216-448-2247LinkedIn1-10 employeesmedical practice
Other plans on this EIN
3 filings
#002Retirement-$4.56B assets#001Retirement-$1.21B assets#003Retirement-$854.0M assets
Prospect flagsLow assets / participant

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(216) 448-2247
Plan administrator signer
STEVEN C. GLASS
Signed 10/11/2018
How to read this page

Summary metrics

Total assets (EOY)
$745.8M
-17.2% from 2016
Total participants
46,331
-3.4% from 2016
Average account balance
$16,439
-13.5% from 2016
Annual return
17.41%
-7.32 pp from 2016

Benchmarks

See 207 peers
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants>=10,000
Cohort207 peers
Snapshot2017
Participant deferral / active EE
$0
median $3,033
Employer contribution / active EE
$2,112
median $1,293
Participation rate
97.7%
median 77.0%
Avg account balance
$16,439
median $47,645
Admin fee / account holder
$10
median $38
Annual return
17.41%
median 18.04%
Overall peer rank
55th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$1.77B
Average account balance
Total assets / participants with a balance (line 6g)
$24K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
72,743
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
99.1%
Contributions (total)
Employer and participant dollars contributed each year
$170.17M
Contributions per participant
Average employer and participant contribution per enrolled participant
$3K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+16.27%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$29
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 10 of 11 by compensation
ProviderService typeCompensation
FINANCIAL ENGINES2 years
Service code 27 · EIN 77-0473565
Advisory (Plan)
$266,716
THE CLEVELAND CLINIC FOUNDATION3+ years
Service code 14 · EIN 34-0714585
Plan Administrator
$57,887
STRATEGIC WEALTH PARTNERS3+ years
Service code 26 · EIN 26-2328809
Advisory (Participants)
$41,774
CLS INVESTMENTS LLC3+ years
Service code 26 · EIN 32-0070947
Advisory (Participants)
$35,757
STRATOS WEALTH PARTNERS1 year
Service code 26 · EIN 27-5273468
Advisory (Participants)
$9,879
POTOMAC FUND MANAGEMENT, INC.3+ years
Service code 26 · EIN 52-1542454
Advisory (Participants)
$9,292
FLEXIBLE PLAN INVESTMENTS3+ years
Service code 26 · EIN 38-2340348
Advisory (Participants)
$7,471
LINEWEAVER WEALTH ADVISORS LLC2 years
Service code 26 · EIN 47-1966492
Advisory (Participants)
$6,867
SEQUOIA FINANCIAL ADVISORS2 years
Service code 26 · EIN 27-7729029
Advisory (Participants)
$6,656
BEACON FINANCIAL ADVISORS, LLC1 year
Service code 26 · EIN 47-2589461
Advisory (Participants)
$5,571

Top hat statement on fileNQDC

Filed December 23, 1992

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

Open the filing PDF

Plan features & details

Pension benefit codes2A2E2F2G2R3H
Plan features
  • 2A
    Age/service weighted or new comparability plan
    Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
  • 2E
    Profit-sharing
    Profit-sharing plan.
  • 2F
    ERISA section 404(c) plan
    This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
  • 2G
    Total participant-directed account plan
    Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • 2R
    Participant-directed brokerage accounts
    Participant-directed brokerage accounts provided as an investment option under the plan.
  • 3H
    Controlled group member
    Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped
  • OpportunityLow assets / participant

    Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II
Admin total
$476K
$11 / participant
  • Investment mgmt$267K56.0%
  • Contract admin$152K31.8%
  • Other / not subdivided$58K12.1%
% of EOY assets
0.064%
all-in expense ratio
Categories reported
2 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm
MAYER HOFFMAN MCCANN PC
Auditor EIN
431947695
Audit fees
(not subdivided)
Opinion code
Disclaimer